Wednesday, 15 December 2010 11:23 'Mervyn King plotted a secret bailout of the banking system six months before Gordon Brown decided to take action. The Bank of England governor told U.S. officials in March 2008 that ‘a co-ordinated effort to possibly recapitalise the global banking system’ was needed to save it from collapse, according to documents released by WikiLeaks. Mr Brown did not come up with his master plan to tackle the financial crisis until September 2008 following the collapse of U.S. investment bank Lehman Brothers. The delay raises a major question over his claims that he was the brains behind the bailout and had ‘saved the world’.' Read more: Bank of England Boss Mervyn King, not Gordon Brown, 'Was Bank Bailout Mastermind' Wednesday, 15 December 2010 11:03 'EU leaders are poised this week to agree an amendment to the Lisbon Treaty to create a permanent rescue fund for euro countries, a step they believe they can take without prompting another Irish referendum. At a summit here on Thursday and Friday, the leaders of the 27 member states will agree to insert a paragraph into the treaty to empower euro zone countries to bail out any distressed member of the single currency. The move comes amid disunity over the necessity for any new measures to boost confidence in the euro after Ireland’s rescue failed to calm financial markets.' Read more: EU Says No Referendum Needed for Permanent Rescue Fund Amendment
Thursday, 16 December 2010
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